Pins matching tag:"Larry Ellison"

Oracle closed fiscal 2025 with $15.9 billion of fourth-quarter revenue, up 11%, and $138 billion of contracted backlog, and Safra Catz forecast cloud infrastructure growth of over 70% for fiscal 2026.

Oracle said four multi-billion-dollar contracts lifted its contracted backlog 359% to $455 billion and forecast cloud infrastructure revenue rising to $144 billion in four years; the stock gained 36% the next day, its best since 1992.

Oracle promoted cloud chief Clay Magouyrk and industries chief Mike Sicilia to joint chief executives, ending Safra Catz's 11 years as CEO; she became executive vice chair of the board.

Oracle's renamed flagship conference (formerly CloudWorld), the first under co-CEOs Clay Magouyrk and Mike Sicilia, where Oracle unveiled OCI Zettascale10, a 50,000-GPU AMD supercluster and Oracle AI Database 26ai.

Oracle's backlog rose $68 billion to $523 billion on new commitments from Meta and NVIDIA, but revenue came in below forecasts and the shares fell 11% after hours; a $2.7 billion gain on selling its Ampere stake lifted earnings.

A proposed class action in Manhattan says Oracle hid that it needed to borrow heavily again for AI data centers when it sold $18 billion of notes and bonds.

Barrows v. Oracle says Oracle misled investors that its AI data-center spending for OpenAI would quickly turn into revenue, covering stock bought June-December 2025.

Oracle staff in several countries were told by early-morning email that it was their last working day, as WARN notices went in for Seattle and four California sites.

A day after Oracle's quarterly filing disclosed that Larry Ellison could sell up to 50 million shares, about $7.5 billion worth, Oracle said he had cancelled the plan without selling any and had no other plans to sell.

Oracle began another round of layoffs, telling staff by early-morning email that it was their last working day, days after adding about $700 million to its AI-era restructuring plan.